Its information overload everywhere, and theres not time enough to sleep and eat and stay fully apprised of whats happening on this crazy blue dot of ours (two out of three aint bad). Heres the weekend Sports Handle item, Get a Grip, recapping the weeks topU.S. sports bettingstories, highlighting some fresh news, and rounding up key stories.
Shockers, Surprises, And Ho-Hums: Celebrating Four Years Post-PASPA
Its Official: Kansas Governor Makes Sports Betting Law
Kentucky Derby Winner Rich Strike Wont Run In Preakness Stakes
Derby Jockey Leon Takes Forced Vacation After Historic Win
TVG Service Interruptions On Kentucky Derby Day Business As Usual For Horse Racing
Fixed Odds Arrive At Monmouth Park
Sportsbooks Seeing Heavy Action On NBA, NHL Favorites Moneylines
Buffalo Bills Remain Super Bowl Favorites After NFL Schedule Release
Genius Touts Strong Customer Acquisition Metrics, Even As Q1 Losses Swell
Its Your Sportsbook Operator On Line One
Colorado Problem Gambling Funding Clears Legislature, Draws Pointed Criticism
Gambless Brings Responsible Gambling Into The App Age
Chicago Aldermen Discuss, Question Casino Process As Decision Draws Near
We Dont Want Your Casino, Chicagoans Tell Ballys At Town Hall Meeting
Sportsbook Launch Roundup: Midwestern States Enhance Retail Offerings
April Sports Betting Handle In Indiana Dips Below $400 Million
Circa Sports To Enter Illinois Via New American Place In Waukegan
Illinois Posts Record $971 Million Sports Betting Handle For March
California Tribes Wont Try For Mobile Proposal On 2022 Ballot
First Sports Bets In Maine Still More Than A Year Away
Judge In PlayUp vs. Mintas Dispute Scolds Both Sides To Put Aside Their Rancor
In the same week that a tribal group led by the San Manuel Band of Mission Indians announced it would pull back and try to qualify its ballot initiative for 2024 rather than 2022, backers of the two initiatives poised to be on the ballot announced additional support.
The political committee running the California Solutions for Homelessness and Mental Health Act proposal on Wednesday released a list of 21 organizations tied to homelessness, mental health, housing, local government, seniors, and businesses insupport of a digital sports betting measure. According to the press release, should the measure pass, the proposal will funnel hundreds of millions of dollars per year to help tackle Californias homelessness problems. The initiative is backed by seven potential sports betting operators, including BetMGM, DraftKings, and FanDuel, and the political committee submitted 1.6 million signatures to the Secretary of State for verification last week.
Our organization strongly supports the initiative, said Miguel Perez, Executive Director of the Kings Tulare Homeless Alliance. Homelessness is at a crisis point across this state. This provides a safe and responsible path to legalizing online sports betting and generating hundreds of millions of dollars each year that will help local leaders fight homelessness. California cant afford not to act.
One day later, a tribal group backed by the Pechanga Band of Luiseno Indians, the Yocha Dehe Wintun Nation, and the Agua Caliente Band of Cahuilla Indians released its own updated list of proponents backing the tribal-only, retail-only initiative that has qualified for the ballot. The list includes tribes, civic groups, public safety groups, faith-based organizations, and homelessness advocates in opposition to the so-called Corporate Online Gambling Proposition.
The Corporate Online Gambling Proposition was written for the sole benefit of out-of-state gambling corporations, Pat Fong Kushida, president and CEO of the California Asian Pacific Chamber of Commerce, said in a press release. This measure would give online gambling corporations near total control over the sports wagering market, effectively hijacking any local economic benefits for our small businesses, while sending 90% of profits from sports gambling out of state and even out of country.
During the companys 2022 first-quarter earnings call on Tuesday, Wynn Resorts CEO Craig Billings reaffirmed the companys commitment to its online gambling division in light of media speculation on a potential sale.
The speculation intensified in January when the New York Post reported that Wynn Resorts placed Wynn Interactive up for sale at $500 million, a steep discount from the $3 billion valuation it received in 2021. Earlier this week, Sports Handle reported that Wynn Resorts opted to hold on to the online division, citing comments from multiple sources.
Wynn Interactive, which contains WynnBET, the companys online sports betting division, is struggling to gain market share in New York. For the week ending May 1, WynnBET reported an online sports wagering handle of $2.4 million, far below market leader FanDuel Sportsbook, which handled $135.6 million in sports bets.
Despite a more prudent approach to ad spending, Wynn Interactive reported operating losses of -$105 million, nearly doubling the total from the previous years quarter. At the same time, the companys EBITDA burn rate improved amid declines in marketing expenses, according to Wynn CFO Julie Cameron-Doe. Wynn closed on Wednesday at $58.85 a share, down 4.8% on the session.
Matt Rybaltowski
On Monday, BetMGM announced a new partnership with the Houston Astros, seemingly laying groundwork should lawmakers there legalize sports betting. Texas is currently surrounded by legal wagering states, but the state legislature in 2021 declined to seriously consider any gambling bills, and wont meet again until 2023.
A permanent BetMGM outfield wall sign and rotational promotional messaging behind home plate are included in the deal, according to a press release. The partnership includes special betting promotions for BetMGM customers in Louisiana. Astros fans will also be given opportunities to take part in VIP experiences, including throwing out the first pitch and on-field access.
In other deals this week, the Los Angeles Sparks partnered with LegalZoom, a legal, compliance, and tax solutions platform, and Texas A&M partnered with Logo Brands for branded tailgate and outdoor lifestyle products.
Daily fantasy sports provider Underdog Sports, which has plans to move into the sports betting space, announced that Stacie Stern, formerly with FanDuel, has joined the company as vice president of government affairs and partnerships. Underdog is funded in part by Mark Cuban, Kevin Durant, Trae Young, Odell Beckham Jr., and a host of other sports and entertainment personalities.
Underdog is the most exciting and innovative company in the space and has a great shot to be a market leader in the coming years and I cant wait to play a meaningful role in the growth, Stern said in a press release.
In other corporate news, U.S. Intergrity on Wednesday announced the hiring of former Bloomberg engineer Ricky Wong as Chief Technology Officer.
According to the American Gaming Association, commercial gaming revenue across the U.S. set a first-quarter record at $14.31 billion in the Q1 2022, including $5.31 billion in gaming revenue in March, the highest revenue month in history for the industry. First-quarter revenue increased 29% year over year. For a look at the growth, click here for the AGAs State of the States report.
The AGA also said sports betting and iGaming set records for growth. Four years post-PASPA, legal sports bettings success is proving what weve known all along: American consumers are eager to wager within the protections of the regulated market, AGA President Bill Miller said.
During its monthly meeting on Thursday, the Washington State Gambling Commission unanimously voted to send the Chehalis Tribes amended compact to Gov. Jay Inslee for approval. Should the governor and the U.S. Department of the Interior give the amended compact the green light, the tribe which operates the Lucky Eagle Casino in rural Rochester will become the 20th in the state with the ability to offer sports wagering.
Additionally, the amended compact will allow for higher betting limits in certain table-game areas, and will increase the percentage of profits that the tribe contributes to charities and problem gambling services.
Mike Seely
BLAME THE MOB? Bodies found in Lake Mead renew interest in organized crime. [AP]
MINNESOTA MOVEMENT: House approves sports betting bill, but at odds with Senate. [Star-Tribune]
DOOMSDAY? Jan. 9, 2022 was almost a black swan event for sportsbooks. [ESPN]
FLORIDA GAMING COMMISSION: Gov. Ron DeSantis appoints five to new entity. [FloridaPolitics]
PAYSAFE MOVES INTO EUROPE: Payment platforms partners with PlayTech in Europe. [BusinessWire]
WEVE GOT NEXT: Quarter4 adds WNBA to sophisticated A.I. prediction platform. [Yahoo]
INFLATION? NOT HERE: DraftKings CEO Jason Robins says wagering not affected by rising costs. [Yahoo]
LAWSUIT: A day after legalizing sports betting, state of Kansas sued by Boyd Gaming over dogs. [AP]
NCAA ON NIL: College association trying to find ways to legislate name, image, and likeness. [SI]
Matt Rybaltowski contributed to this report
Link:
Get A Grip: The Week In Sports Betting - Sports Handle
- Ohio sports betting revenue hikes 15.8% to $73.9m in April - iGaming Business - June 3rd, 2024 [June 3rd, 2024]
- MLB gambling scandal: Padres' Tucupita Marcano under investigation, accused of betting on baseball, per report - CBS Sports - June 3rd, 2024 [June 3rd, 2024]
- Tucupita Marcano faces MLB ban for betting on baseball - The Washington Post - June 3rd, 2024 [June 3rd, 2024]
- Colorado voters to decide if sports betting tax should go to water conservation - thechronicle-news.com - June 3rd, 2024 [June 3rd, 2024]
- Opinion | Sports Gambling Scandals Will Only Get Worse - The New York Times - June 3rd, 2024 [June 3rd, 2024]
- Sports betting roundup: Celtics open as NBA Finals favorites, Panthers narrow picks for Stanley Cup - The Washington Post - June 3rd, 2024 [June 3rd, 2024]
- 2024 NFL Week 1 betting action report: 'Expect a lot of sharp action on the Jets' - FOX Sports - June 3rd, 2024 [June 3rd, 2024]
- US April round-up: growth in Virginia, mixed month for Colorado - iGaming Business - June 3rd, 2024 [June 3rd, 2024]
- San Diego player probed for betting on baseball - Press Herald - June 3rd, 2024 [June 3rd, 2024]
- Gateway-Portland NASCAR 2024 Weekend Betting Recap I NASCAR Gambling Podcast (Ep. 427) - SGPN - June 3rd, 2024 [June 3rd, 2024]
- Giants vs Diamondbacks Picks, Predictions & Starting Pitchers for June 3 - Sports Betting Dime - June 3rd, 2024 [June 3rd, 2024]
- Fanatics Sportsbook Massachusetts Promo Code: Bet And Get Up To $1K In Bonuses For June 3rd, 2024 - Bookies.com - June 3rd, 2024 [June 3rd, 2024]
- Sports betting roundup: Celtics open as NBA Finals favorites, Panthers narrow picks for Stanley Cup - Bozeman Daily Chronicle - June 3rd, 2024 [June 3rd, 2024]
- Tax Hike Rattles Leaders in Illinois Sports Betting Industry - World Casino Directory - June 3rd, 2024 [June 3rd, 2024]
- Padres' Tucupita Marcano facing lifetime MLB ban after allegedly betting on Pirates games while with team - New York Post - June 3rd, 2024 [June 3rd, 2024]
- Memorial Tournament Odds, Predictions, Picks & H2H Best Bets - Sports Betting Dime - June 3rd, 2024 [June 3rd, 2024]
- Sports betting roundup: Celtics open as NBA Finals favorites, Panthers narrow picks for Stanley Cup - The Caledonian-Record - June 3rd, 2024 [June 3rd, 2024]
- Report: San Diego Padres player Tucupita Marcano under MLB investigation for allegedly betting on baseball - ABC 10 News San Diego KGTV - June 3rd, 2024 [June 3rd, 2024]
- Stanley Cup Final Betting Preview: Oilers vs. Panthers - SGPN - June 3rd, 2024 [June 3rd, 2024]
- Sports betting roundup: Celtics open as NBA Finals favorites, Panthers narrow picks for Stanley Cup - Post Register - June 3rd, 2024 [June 3rd, 2024]
- Sports betting roundup: Celtics open as NBA Finals favorites, Panthers narrow picks for Stanley Cup - News-Press Now - June 3rd, 2024 [June 3rd, 2024]
- Fanatics Sportsbook North Carolina Promo: Bet And Get $1K In Bonus Bets For June 3rd - Bookies.com - June 3rd, 2024 [June 3rd, 2024]
- Lottopar brings Paran's experience in regulating sports betting to an event in Chile - Games Magazine Brasil - Games Magazine Brasil - June 3rd, 2024 [June 3rd, 2024]
- Sports betting roundup: Celtics open as NBA Finals favorites, Panthers narrow picks for Stanley Cup - Idaho Press - June 3rd, 2024 [June 3rd, 2024]
- ESPN BET Promo Code DIME Activates $1K First-Bet Reset on Sunday - Sports Betting Dime - June 3rd, 2024 [June 3rd, 2024]
- Magazine readers react to story about sports betting - The Boston Globe - June 3rd, 2024 [June 3rd, 2024]
- Bovada Ordered To Leave Michigan Sports Betting Market - Legal Sports Report - June 3rd, 2024 [June 3rd, 2024]
- The Exciting New World of Crypto and Betting - Crypto Times - June 3rd, 2024 [June 3rd, 2024]
- Bet365 bonus code NJ DIMERS: Seize $150 bonus or $1K sports betting deal this month - SILive.com - June 3rd, 2024 [June 3rd, 2024]
- Betting Odds Reveal Lakers' Likely Next Head Coach - LA Sports Hub - June 3rd, 2024 [June 3rd, 2024]
- Iowa-based athletes in betting inquiry sue, say rights violated - ESPN - April 29th, 2024 [April 29th, 2024]
- Roger Goodell tries to reconcile the NFL's embrace of sports betting - NBC Sports - April 29th, 2024 [April 29th, 2024]
- Shedeur Sanders is the betting favorite to go first overall in the 2024 NFL draft - Yahoo Sports - April 29th, 2024 [April 29th, 2024]
- In its second full year, mobile sports betting in Arkansas is set to make over $500 million dollars | Arkansas Democrat ... - Arkansas Online - April 29th, 2024 [April 29th, 2024]
- Rhode Island sports betting revenue dips in March despite handle increase - iGaming Business - April 29th, 2024 [April 29th, 2024]
- Nevada Sports Betting Handle Fails To Hit $800 Million For March - Sports Handle - April 29th, 2024 [April 29th, 2024]
- ESPN BET Vermont Promo Code For April 29th, 2024: Everything You Need to Know - Bookies.com - April 29th, 2024 [April 29th, 2024]
- Minnesota senator's arrest could upend sports betting, other bills - iGaming Business - April 29th, 2024 [April 29th, 2024]
- An Under In A Braves Game? It Could Happen Tonight - Outkick - April 29th, 2024 [April 29th, 2024]
- BetMGM Bonus Code BOOKIES: Get Up To $1,500 In Bonuses On April 28th, 2024 - Bookies.com - April 29th, 2024 [April 29th, 2024]
- Boston Celtics vs Miami Heat Odds, Picks, Props & Injury Reports for Game 4 - Sports Betting Dime - April 29th, 2024 [April 29th, 2024]
- Thanks to NCAA Tournament, Delaware sees uptick in sports betting numbers in March - Delaware First Media - April 29th, 2024 [April 29th, 2024]
- The impacts of banning bonuses on the sports betting and online gaming market in Brazil - Games Magazine Brasil - GAMES MAGAZINE BRASIL - April 29th, 2024 [April 29th, 2024]
- Elon faculty featured in FOX8 report on legalized sports betting in N.C. - Today at Elon - April 29th, 2024 [April 29th, 2024]
- NASCAR Dover 2024 Weekend Betting Recap I NASCAR Gambling Podcast (Ep. 401) - SGPN - April 29th, 2024 [April 29th, 2024]
- MLB Betting and DFS Podcast: The Solo Shot, Monday 4/29/24 - FanDuel Research - April 29th, 2024 [April 29th, 2024]
- Iowa athletes file federal lawsuit against DCI over sports betting probe - The Gazette - April 29th, 2024 [April 29th, 2024]
- Fanatics Sportsbook North Carolina Promo: Bet And Get $1K In Bonuses For April 29th, 2024 - Bookies.com - April 29th, 2024 [April 29th, 2024]
- The Coyotes Are Now Inactive. Their Sports Betting License Is Not - Sportico - April 29th, 2024 [April 29th, 2024]
- DraftKings $200 Promo Code: Bet $5, Get $200 In Bonuses On April 29th, 2024 - Bookies.com - April 29th, 2024 [April 29th, 2024]
- SeguroBet sees sports betting and iGaming strengthened after participation in BiS SiGMA Americas - Games Magazine ... - GAMES MAGAZINE BRASIL - April 29th, 2024 [April 29th, 2024]
- Iowa College Athletes Going to Federal Courts Over Sports Betting Violations - OddsShopper.com - April 29th, 2024 [April 29th, 2024]
- What are the Main Differences Between Esports and Traditional Sports Betting? - Esports News UK - April 29th, 2024 [April 29th, 2024]
- Iowa athletes file federal lawsuit against DCI after sports betting investigation - UI The Daily Iowan - April 29th, 2024 [April 29th, 2024]
- Minnesota Timberwolves vs Phoenix Suns Game 4 Predictions, Player Props & Odds (April 28) - Sports Betting Dime - April 29th, 2024 [April 29th, 2024]
- Sports betting CPI hears from Brazilian Footbal Confederation representatives this Monday - Games Magazine Brasil - GAMES MAGAZINE BRASIL - April 29th, 2024 [April 29th, 2024]
- NBA Betting Promos For Heat vs. Celtics, Game 4 - Winners and Whiners - April 29th, 2024 [April 29th, 2024]
- Betway Sportsbook Promo Code: Grab A First Bet Reset Of Up To $250 For NBA On April 29th 2024 - Bookies.com - April 29th, 2024 [April 29th, 2024]
- Kentucky Derby Projected to Receive More Attention in 2024 - Covers - April 29th, 2024 [April 29th, 2024]
- 38 states rake in millions in sports betting while Oklahoma still waits for legalization - KOKI FOX 23 TULSA - March 29th, 2024 [March 29th, 2024]
- Sports Betting Scandals Are Piling Up. What It Means for Gambling Stocks. - Barron's - March 29th, 2024 [March 29th, 2024]
- Sports betting: How gambling can impact the integrity of the game - WRAL News - March 29th, 2024 [March 29th, 2024]
- A new coalition wants to address the risks of youth sports betting in Massachusetts - Boston Herald - March 29th, 2024 [March 29th, 2024]
- A Better East Texas: Professional sports betting scandals - KLTV - March 29th, 2024 [March 29th, 2024]
- Sports betting won't be legal in Georgia after lawmakers couldn't agree on how to spend taxes - goskagit.com - March 29th, 2024 [March 29th, 2024]
- Sports betting bill will help MN veterans, charities - ECM Publishers - March 29th, 2024 [March 29th, 2024]
- Sports betting won't be legal in Georgia after lawmakers couldn't agree on how to spend taxes - Bowling Green Daily News - March 29th, 2024 [March 29th, 2024]
- NCAA set to push states with legalized sports betting to ban prop bets for all college sporting events - Yahoo Sports - March 29th, 2024 [March 29th, 2024]
- Sports betting addiction on the rise - Toledo - WTVG - March 29th, 2024 [March 29th, 2024]
- Pritzker eyes bigger piece of Illinois sports betting action after 4 booming years - WVIK - March 29th, 2024 [March 29th, 2024]
- All Eyes on Georgia Sports Betting During Final Legislative Day - Sports Betting Dime - March 29th, 2024 [March 29th, 2024]
- Best North Carolina sports betting promos for UNC vs. Alabama in Sweet 16: Claim thousands in NC sportsbook ... - Sporting News - March 29th, 2024 [March 29th, 2024]
- South Carolina Sports Betting 2024: Best SC Sportsbooks - The Hudson Reporter - March 29th, 2024 [March 29th, 2024]
- A Better East Texas: Professional sports betting scandals - KTRE - March 29th, 2024 [March 29th, 2024]
- Sports betting hits ground running | wltx.com - WLTX.com - March 29th, 2024 [March 29th, 2024]
- North Carolina reports nearly $200m in handle in first week of legalized sports gambling - EGR Global - March 29th, 2024 [March 29th, 2024]
- I got over 100 messages telling me I suck: UNC basketball star concerned with hate messages after sports betting takes off - WGHP FOX8 Greensboro - March 29th, 2024 [March 29th, 2024]
- Fanatics replaces PointsBet in Kansas - Sports betting - iGB - iGaming Business - March 29th, 2024 [March 29th, 2024]
- Sports betting addiction on the rise - Wichita - KWCH - March 29th, 2024 [March 29th, 2024]
- 'March Madness' Sports Betting Is Big Business - Investopedia - March 29th, 2024 [March 29th, 2024]